The Long Investor

$NVO - BREAKING - WATCHLIST -

Added 2025-05-16 11:18:02 +0000 UTC

$NVO CEO has decided to step down:

LARS FRUERGAARD JØRGENSEN TO STEP DOWN AS CEO OF NOVO NORDISK
FRUERGAARD WILL CONTINUE AS CEO FOR A PERIOD TO SUPPORT A SMOOTH TRANSITION TO NEW LEADERSHIP
SEARCH FOR LARS FRUERGAARD JØRGENSEN'S SUCCESSOR IS ONGOING
LARS REBIEN SØRENSEN, CHAIR OF NOVO NORDISK FOUNDATION, WILL JOIN NOVO NORDISK BOARD, INITIALLY AS AN OBSERVER
CHANGES ARE MADE IN LIGHT OF RECENT MARKET CHALLENGES NOVO NORDISK HAS BEEN FACING, AND DEVELOPMENT OF COMPANY'S SHARE PRICE SINCE MID-2024
NOVO NORDISK FOUNDATION BOARD EXPRESSED WISH TO INCREASE ITS REPRESENTATION ON NOVO NORDISK BOARD
HELGE LUND, CHAIR OF NOVO NORDISK BOARD: "NOVO NORDISK'S STRATEGY REMAINS UNCHANGED"

Price action is down -2% in the PM on this news and it is hardly a surprise to see that $NVO want a fresh CEO in now.
The share price has dropped from $147 to $59 and they may believe that a new CEO can help start the reversal to the upside.....it was likely going to happen anyway but this will comfort new buyers to step in.
This news could help the share price move down to the sweet spot now between $61 - $64 to complete this pull back and holding
Once there is a hold, we can add again to catch the move again to the upside which would be Wave 3.
Short term target remains at $102.